Spokane Valley is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Spokane Valley are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Spokane Valley are slightly higher than the national average. Spokane Valley apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Spokane Valley.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Spokane Valley are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.53% - 6.77% |
| 7 Year Fixed | 6.24% - 6.48% |
| 10 Year Fixed | 6.33% - 6.57% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Spokane Valley.
The city of Spokane Valley in Spokane County has a population of 101,060. The median rent in Spokane County for a 2 bedroom is $1,067. The median Spokane Valley resident is 38 years old with a yearly income of $30,248. The average family has 2.98 members and a median household income of $51,961. Spokane Valley has a 23% higher education rate. The unemployment rate in Spokane Valley is 5.4%.
42.7% of Spokane Valley households are renters.
31.2% median household income spent on rent.
Bedrooms |
Spokane County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $714 | $801 | $737 |
| 1 bedroom | $820 | $904 | $813 |
| 2 bedroom | $1,067 | $1,138 | $1,015 |
| 3 bedroom | $1,527 | $1,591 | $1,325 |
| 4 bedroom | $1,821 | $1,874 | $1,521 |
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